Investment Casting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Investment Casting Market: Snapshot
The global investment casting market is anticipated to witness high growth opportunities birthing on the back of the increase in decentralized power generation. The global investment casting market could bear the positive effect of the use of simulations for optimizing the casting process. Players operating in the precision casting market are expected to collaborate with a view to innovate sophisticated casting technologies with the help of simulations. This could allow increasing the casting yield and reducing the shop-floor time.
Casting is an energy-intensive procedure because of the high temperature requirement for meting materials efficiently. Thus, the need to overcome high energy cost is predicted to increase the demand in the global investment casting market. The presence of several regional and international manufacturers is projected to keep the global investment casting market fragmented during the course of the forecast period 2018-2028.
Factors such as innovation, regulatory compliance, quality, and price are expected to form the basis of competition in the global investment casting market. Nonetheless, there could be other factors impacting the performance of manufacturers in the global investment casting market: service delivery innovation, technology innovation, and supply/demand imbalance. The global investment casting market could stay highly competitive in the foreseeable future.
The demand in the global investment casting market is forecast to gather pace with increasing requirement in highly automated vehicle (HAV). This could be supported by the rising demand in industrial gas turbine and aerospace and defense sectors. These sectors are achieving extensive growth while riding on the continuous increase in global population and rising urbanization. Asia Pacific expected to emerge as a primary consumer of new aircrafts could make significant contributions to the global investment casting market. However, North America is envisaged to take the lead in the global investment casting market with the availability of natural gas at an inexpensive price.
Global Investment Casting Market: Overview
The demand within the global market for investment calling has been expanding on account of the need for metallic devices and objects across several industries. Investment casting is amongst the oldest techniques for the manufacture of well-defined and properly shaped metallic objects, and this technique is also known as lost-wax casting A mould of the desired metallic alloy is formed around a wax structure that is later melted to leave the metallic object. The castings carved out of the wax-loss technique are accurately shaped, and the technique is extensively used for manufacturing extra-small metallic objects. The history of investment casting goes back to 5000 years ago when beeswax was used as the shaping agent. The availability of several kinds of alloys, refractory materials, and waxes has given a mark of sophistication to the technique. Some of the key advantages of castings produced through investment casting are versatility, repeatability, accuracy, and integrity. Furthermore, the wax used during investment casting can be reused which makes the process waste-free.
The global market for investment casting can be segmented based on the following parameters: end-use industry, material type, and geography. Due to the expansive applicability of investment casting, it is important to understand each of the aforementioned segments with a deft level of scrutiny.
A report on the global market for investment casting throws light on the forces that have contributed towards the fructuous growth of the global market. Furthermore, the report categorises the global market into key segments which makes it easier to delve into the specifics of the market.
Global Investment Casting Market: Trends and Opportunities
The accuracy, geometric symmetry, integrity, and surface smoothness of castings made out of investment casting are the primary reasons behind the growth of the global market. Furthermore, the material required for carving objects through investment casting is lower than the amount required while employing other processes. The freedom of design offered by investment casting is another key consideration for manufacturers while choosing a technique for metal carving. Besides all of this, investment casting is not a metal-bound process, and all kinds of metallic alloys can be shaped using this technique.
The defense and aerospace industry has been a key consumer within the global market for investment castings. The ability of investment casting to produce objects ranging from a few ounces in weight to ultra-heavy objects that weigh hundreds of kilos is a key driver of demand within the global market. Investment castings are extensively used in the manufacture of military aircrafts, regional jets, launch vehicles, helicopters, and commercial transport vehicles. The initial investment required for installing investment casting equipment within industries is extremely high, and this hampers the growth of the global market.
Global Investment Casting Market: Regional Outlook
The demand for investment casting has been the highest in North America due to the industrial immaculacy of key countries such as US and Canada. It is anticipated that developments in the defense and aerospace sector of the region would bode well for the growth of the regional market over the forthcoming years.
Global Investment Casting Market: Competitive Landscape
The key market vendors in the global market for investment casting include Hitachi Metals, Ltd., Arconic, Impro Precision Industries Limited, Precision Castparts Corp., MetalTek International, and ZOLLERN GmbH & Co. KG. These market players have been focusing on improving the quality of the equipment used for investment casting.
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